Rockwall City Council Considers Balanced Budget and Lower Tax Rate

(ROCKWALL, TX – Sept. 1, 2016) At their September 19 meeting, the Rockwall City Council will consider adoption of a balanced budget with a 3.1 cent decrease in the tax rate. The proposed tax rate of 45.43 cents per $100 of valuation is a decrease from the 48.53 cents adopted in 2016. The Council held an open meeting last Thursday for a budget work session to discuss the proposed 2017 budget, and a public hearing will take place at their regular meeting next Tuesday, September 6 at 6 p.m. at City Hall, located at 385 South Goliad Street.

Under direction of the City Council, City Manager Rick Crowley presented a budget that addresses public safety, parks and recreation, streets and many other important needs throughout the city. The Rockwall City Council directed staff to prepare a balanced budget based on the effective tax rate, which allows the City to collect the same amount in taxes as the year before. The proposed tax rate is the lowest since 2008.

The City of Rockwall’s fiscal year 2017 proposed budget allows for several significant improvements without negatively impacting the tax rate. Some of the key elements of the FY 2017 budget include funding three new full-time firefighter positions, adding a new patrol officer and a new captain position in the police department, as well as a 40% increase in street maintenance project funding.

Several factors have combined to enable the City to utilize the effective tax rate without making substantial cuts to the budget, including strong sales tax revenue, an increase in taxable values due to reappraisals, and a reduction in debt due to refinancing of the City’s existing debt at a lower interest rate.

Submitted press release by Lauri Dodd, Public Information Officer / Marketing, City of Rockwall.

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